Seaport downgrades Dominion, expects ‘lengthy and challenging’ approval process

As previously reported, Seaport Research downgraded Dominion (D) to Neutral from Buy following the announcement of NextEra Energy’s (NEE) all-stock acquisition. Dominion trades above the firm’s previous $67 price target, notes the analyst, who is “bracing for a lengthy and challenging regulatory approval process.” The firm prefers to follow the merger process and CVOW updates from the sidelines, the analyst tells investors.